Tag Archives: NBG

On May 10, 2017, GEL 30 000 000 2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 56 300 000. Minimum yield was 7.900%, maximum yield was 7.980% and the weighted average …

National Bank of Georgia and Microsoft Georgia held discussions on the topic of cloud computing and the supervision of outsourcing risk and announced their readiness for cooperation in the sphere of Cloud computing in the financial sector within the country. The operational risk regulation of the National Bank of Georgia does …

National Bank of Georgia (NBG) plans to revise the NBG decree on Determination of Minimum Capital Amount for commercial Banks. According to the 2016 annual report, minimum supervisory capital requirements for legal entities seeking a banking license and licensed commercial banks makes up 50 million GEL. Timeframes will be introduced …

In summer 2017, in French city of Bordeaux center of wine civilization, International Wine Exhibition will be held, where Georgia will be the guest of honor, which will be presented not only in terms of wine-making, but also in terms of culture, ethnography and history. In this regard, National Bank …

Banking sector’s revenues in January-February made up 558 million GEL, up 12% year on year. According to statistics of National Bank of Georgia (NBG), in the reporting period the banking sector’s expenditures totaled 105 million GEL (104 million GEL as of March 1, 2016), including staff expanses marked 92 million …

“Banking sector will receive more benefits compared to extra costs”, Archil Mestvirishvili, vice president of National Bank of Georgia (NBG) noted concerning deposits obligatory insurance system introduction. The private sector thinks that banking sector will have to take higher costs because of deposits insurance obligatory program, about 15-20 million GEL …

Currently, 75 million USD has been converted into GEL, Koba Gvenetadze, President of National Bank of Georgia (NBG), noted. “Moreover, we have also specified the list of loans that are subject to larization. About 23% of loans were converted into GEL. As to Larization process, in general, this is not …

At the end of February Government decided to return finance sector supervision functions to National Bank of Georgia (NBG). However, as a matter of fact, NBG had not lost supervisory functions in practice, despite in 2015 Parliament approved amendments to the Law on Commercial Banks, under which finance sector supervision …

“Board of Directors of International Monetary Fund will approve the new program for Georgia at the meeting scheduled on April 12, in the case of accelerated adoption of legislative changes linked to the returning of Financial Supervisory to NBG. However, in the case of standard procedure, the procedure will take …

Bank deposits insurance is one of the mechanisms for ensuring steadiness of finance sector, National Bank vice president Murtaz Kikoria told reporters. “Today the banking system is demonstrating the highest level of steadiness – bank capital adequacy, profitability, liquidity and steadiness indicators satisfy the highest standards. Consequently, it is better …